Established Member
Posts: 22
Registered: ‎10-16-2012

help me with getting a car loan.

I know the title is vague sorry but i need some advice if your willing to give it.


I have been working hard to rebuild my credit for the last 2 years my fico has gone from a 440 to a 575 eq and 612 tu.. I have financed 3 car loans through 

springleaf fin. in the last 2 years and paid off two of them.. I have a good credit mix now and low utilization ratio... its the COs and Forclosure and old colleections thats killing my credit. (all over 2 years old) 

my objective is to buy a car in the 15k-20k range but i dont want to pay springleafs 24% interest. can someone guide me to the best way to get a lower rate with out multiple inquires?


thanks so much!!!

Regular Contributor
Posts: 177
Registered: ‎10-02-2012

Re: help me with getting a car loan.

I'd go to a dealer and let the finance department shop for a loan. I have bought 2 new cars in the last 4 months, and the dealerships beat any other offers I had from my CU.

Established Contributor
Posts: 839
Registered: ‎10-25-2011

Re: help me with getting a car loan.

I would start shopping at credit unions first. A coworker got approved for like 9% with a 601 at a credit union. Then also shop the dealership, because they love to beat rates.

I'm a personal banker and do a lot of auto loans serving the Houston area.
I suggest first time car buyers to read the sticky guide in the auto loan section.
I try to check these forums often, but if I missed your post, please feel free to message me with a link to it.
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